Ive just spent apprx 200 hrs prepping and painting my 3dr 16v.. a small amount of welding was required to the rear wheel arches (rot on wheelarch fixings) small rot repair on tailgate, 2 new genuine front wings... paint, materials, panels, decals, fixings, new windscreen. alone comes in at just under £1000!! plus the labour, 200hrs@£25pr/hr = £5000, plus vat Obviously Ive not had to pay for the labour, but that is a figure that any well run bodyshop should be charging for that type of work.. the stories that you hear of cars going in for a respray, and not seeing the light of day for a year or more is more than likely due to the money situation..ie not enough of it!
Most of the time that went on my car, was setting the door and wing gaps to perfection, closely followed by block sanding and polishing, this is where time runs away!
If you have a good car, mimimal rust, and origional paint..then £1500 is a good starting point! any less than that. corners are being cut!!
I would forget self prepping, you often make more work for the bodyshop, putting your c*ck ups right! just remove the lights and bumpers, trims.. leave the glass in place, this can be popped in minutes by the shop..
Tom